Navmatic Raises $4 Million to Bring Reliable Positioning Services to Micromobility
Summary
Navmatic, a provider of end-to-end high-accuracy positioning solutions for micromobility, robotics and mobile phones, came out of stealth mode today, announcing it has raised $4 million in funding. This is another exciting example of Lears investment in technologies that are pushing the boundaries of expectations and improving the mobility user experience. For years, GPS has been a significant part of our everyday lives. As micromobility continues to gain popularity in large cities, the fleet operators and municipalities face big challenges around ensuring rider safety and keeping our roads and sidewalks uncluttered and efficient, said Boaz Mamo, Navmatic CEO and co-founder. Our cloud-service and software-based approach provides high-accuracy positioning even in dense urban environments with no added infrastructure and in some cases without even having to modify the device. Boaz Mamo is a serial entrepreneur who was one of the founders of the ever-growing mobility ecosystem in Israel. About Navmatic Navmatics solution combines a cloud correction service and robust on-device positioning engine, which includes proprietary sensor fusion and multipath mitigation algorithms.